Lennar Corporation (NYSE:LEN) Shares Acquired by Turtle Creek Wealth Advisors LLC

Turtle Creek Wealth Advisors LLC increased its stake in shares of Lennar Corporation (NYSE:LEN - Free Report) by 24.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 42,041 shares of the construction company's stock after acquiring an additional 8,357 shares during the period. Turtle Creek Wealth Advisors LLC's holdings in Lennar were worth $4,825,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of LEN. Brighton Jones LLC grew its holdings in Lennar by 27.9% during the fourth quarter. Brighton Jones LLC now owns 1,727 shares of the construction company's stock worth $236,000 after acquiring an additional 377 shares during the period. Sequoia Financial Advisors LLC grew its holdings in Lennar by 19.7% during the fourth quarter. Sequoia Financial Advisors LLC now owns 5,854 shares of the construction company's stock worth $798,000 after acquiring an additional 964 shares during the period. Avantax Advisory Services Inc. grew its holdings in Lennar by 4.9% during the fourth quarter. Avantax Advisory Services Inc. now owns 5,092 shares of the construction company's stock worth $694,000 after acquiring an additional 237 shares during the period. Commonwealth Equity Services LLC grew its holdings in Lennar by 5.5% during the fourth quarter. Commonwealth Equity Services LLC now owns 50,054 shares of the construction company's stock worth $6,826,000 after acquiring an additional 2,621 shares during the period. Finally, Avalon Trust Co grew its holdings in Lennar by 3.5% in the fourth quarter. Avalon Trust Co now owns 9,315 shares of the construction company's stock valued at $1,270,000 after purchasing an additional 315 shares during the period. 81.10% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have commented on the company. Zelman & Associates lowered Lennar from a "strong-buy" rating to a "hold" rating in a report on Wednesday, June 18th. The Goldman Sachs Group dropped their price objective on Lennar from $141.00 to $120.00 and set a "neutral" rating on the stock in a report on Tuesday, March 25th. JMP Securities dropped their price objective on Lennar from $150.00 to $130.00 and set a "market outperform" rating on the stock in a report on Friday, June 20th. Keefe, Bruyette & Woods dropped their price objective on Lennar from $128.00 to $114.00 and set a "market perform" rating on the stock in a report on Friday, June 20th. Finally, Wells Fargo & Company dropped their price objective on Lennar from $120.00 to $110.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 9th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $128.85.

Lennar Price Performance

Shares of NYSE:LEN traded up $0.37 during trading on Thursday, reaching $109.80. The stock had a trading volume of 1,634,489 shares, compared to its average volume of 2,729,430. Lennar Corporation has a 1-year low of $98.42 and a 1-year high of $187.61. The stock has a market cap of $28.44 billion, a PE ratio of 9.08, a PEG ratio of 4.65 and a beta of 1.33. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.49 and a current ratio of 3.65. The business has a fifty day moving average price of $109.50 and a 200-day moving average price of $116.63.

Lennar (NYSE:LEN - Get Free Report) last released its quarterly earnings data on Monday, June 16th. The construction company reported $1.90 earnings per share for the quarter, missing analysts' consensus estimates of $1.94 by ($0.04). The company had revenue of $8.38 billion for the quarter, compared to analyst estimates of $8.21 billion. Lennar had a return on equity of 12.73% and a net margin of 9.20%. The business's quarterly revenue was down 4.4% on a year-over-year basis. During the same period last year, the firm posted $3.45 EPS. On average, equities analysts forecast that Lennar Corporation will post 12.48 earnings per share for the current fiscal year.

Lennar Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 18th. Shareholders of record on Thursday, July 3rd will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.82%. The ex-dividend date is Thursday, July 3rd. Lennar's dividend payout ratio (DPR) is currently 16.54%.

Lennar Profile

Lennar Corporation, together with its subsidiaries, operates as a homebuilder primarily under the Lennar brand in the United States. It operates through Homebuilding East, Homebuilding Central, Homebuilding Texas, Homebuilding West, Financial Services, Multifamily, and Lennar Other segments. The company's homebuilding operations include the construction and sale of single-family attached and detached homes, as well as the purchase, development, and sale of residential land; and development, construction, and management of multifamily rental properties.